How Board Portal Technology Enables Boards to Work Smarter

Board portal technology allows boards to be more efficient, improving governance processes for companies of all sizes and sectors. Heavily regulated businesses, such as insurance and healthcare businesses make use of board portals to help them comply with the requirements of regulatory agencies while focusing on business development. Small business boards and other types of boards are also able to benefit from an efficient and seamless board meeting procedures. This can lead to better governance and a more efficient organization.

Utilizing a board management tool reduces the need for physical meetings, which makes for significant cost savings. In addition, a high-quality board portal can provide advanced tools for collaboration that result in time savings and a better efficiency of meetings.

The best board portals let board members comment on and debate topics in a digital format. They also monitor the progress of action items. Discussions can be conducted within the portal, which eliminates sensitive information that might be lost or retrieved from personal email accounts. It also reduces the possibility of sharing confidential board materials.

All stakeholders should be engaged and committed to the implementation of a new portal. A successful implementation begins by the identification of at least one or two «board portal champions» within your organization who can assist in convey the benefits of the portal and provide training for the rest of the team. Find these champions early in the process, and schedule training sessions for each prior to their first encounter using the new portal for board meetings.

http://boardroomplus.info/can-board-members-meet-in-private